The Omnibus Trade and Competitiveness Act of 1988 (OTCA)amends the
A) Securities Exchange Act of 1934.
B) accounting provisions of the FCPA.
C) antibribery provisions of the FCPA.
D) accounting and antibribery provisions of the FCPA.

Question

Quizplus · Accepted Answer

The Omnibus Trade and Competitiveness Act of 1988 (OTCA) amends both the accounting and antibribery provisions of the Foreign Corrupt Practices Act (FCPA). Specifically, it modified the definition of "foreign official" and clarified the application of the FCPA's antibribery provisions to foreign companies and foreign nationals. It also required companies to maintain accurate and detailed records of their financial transactions and to implement effective internal controls to prevent bribes and other corrupt payments. Therefore, choice D is the best answer.